Bangkok--19 Dec--SET
The Stock Exchange of Thailand (SET) will list CPT Drives and Power pcl, the industrial machinery and electric control systems distributor on SET, on December 20, under the ticker symbol "CPT". The company has a market capitalization at its initial public offering (IPO) of THB 2.07 billion (approx. USD 62.73 million).
SET Senior Executive Vice President Santi Kiranand said that CPT, the distributor of machinery and electric control systems with such equipment as AC/DC motor, drives panel or motor speed control for industrial factories, would list on SET in the Industrial industry group, Industrial Materials & Machinery sector. CPT also develops and installs electrical substations.
CPT has a paid-up registered capital of THB 450 million, consisting of 630 million existing common shares and 270 million newly issued shares, with a par value of THB 0.50 each. During December 13-15, it offered 243 million newly issued shares to general public via IPO, and 27 million shares to executives (excluding directors), employees and related persons, at THB 2.30 each, for a total of THB 621 million. Phillip Securities (Thailand) pcl is the financial advisor and underwriter.
CPT Chief Executive Officer Somsak Limprasert said that with 30 years experience in this business, this listing aims to capitalize its business opportunity by expanding its factory in response to the increasing production capability. The fund raised would be used to invest in various projects such as the metal clad switchgear (MCSG), ring main unit (RMU) and energy storage system, as well as enlarging its customer base and enhancing its growth capability by expanding business to other countries such as Cambidia, Indonesia, Myanmar, Philippines, Vietnam, and more.
CPT's three major shareholders after IPO are Limprasert family (31.50 percent), Pepathum family (28 percent), and Wichienkuer family (10.50 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 14.12 times calculated by using the company's net profit in the past four quarters (Q4/2016 – Q3/2017), divided by 900 million fully diluted shares, representing earnings per share of THB 0.16. CPT's dividend policy is to pay no less than 40 percent of net profit from the company's consolidated financial statements after taxes and reserves.
For more information on CPT, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and for general information, please visit www.cptthailand.com , as well as www.set.or.th .